Blog about sports and politics and whatever else seems interesting from a guy (formerly) in Mexico.

Tuesday, July 17, 2012

Good Reading on Issues Related to Organized Crime

Noel Maurer has a characteristically informed and thorough explanation of the case against Wachovia for money laundering. The issue has often been described as Wachovia allowing close to $400 billion be laundered in their system, which is untrue. A lack of adequate controls were applied to a similar amount, but the indictment says that $110 million could be tied to criminal operations. A lot of money, sure, but not a system-shaking amount of money. That's worth keeping in mind as the news spills out about HSBC's money laundering investigation.

You often see a certain fatalistic cynicism in discussions of violence related to the Latin American drug trade, which is rather frustrating. This is a good antidote to one manifestation of that mindset.